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inSure DeFiinSure DeFiby0x9FB1995dC5A08D16704b542BB5039C04158c56f50x9FB1…56f5

Follow up - [ BOND Token/ Fringe Finance] Drastic Devaluation

Voting ended over 2 years agoFailed

The member 0xCfebB1492B7C9cC0321BD3f2BD520291199F48Ed enabled the insurance policy on 03/05/2022. (This can be verified on-chain and here: https://insuretoken.net/check-coverage.html?address=0xCfebB1492B7C9cC0321BD3f2BD520291199F48Ed) The token value is taken on the 7th day of the contribution, i.e. when the policy becomes active.

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The price of BOND on 03/12/2022 was ~$0.0000834, and the current price is $0.000004383

The insurance policy covers only >98% devaluation. - The criteria is not met since the devaluation is ~95% (This can be verified on DEXTools: https://www.dextools.io/app/en/ether/pair-explorer/0x64c29aac69d3122f6e5531ceca1b753f95350af4)

Screen Shot 2023-09-05 at 4.18.36 AM.png

In addition to that other criteria are also not met:

  • The BOND token doesn't have a listed audit on CMC.

All the criteria can be verified on the website: https://insuretoken.net/plan.html

Hence, this insurance claim for the BOND token drastic devaluation is not eligible.

[Copy of the ticket]: The project BOND which was rebranded to Fringe Finance have its own fungible token (BOND) that is listed and tracked on CoinMarketCap and Livecoinwatch:

https://coinmarketcap.com/currencies/bonded-finance/ https://www.livecoinwatch.com/price/BondedFinance-_BOND

Token of the project is listed on multiple Exchanges... Because of various rebranding old token is unsupported as you can see I was a OG holder for the project

token address: 0x5dc02ea99285e17656b8350722694c35154db1e8

Insured wallet Wallet:0xCfebB1492B7C9cC0321BD3f2BD520291199F48Ed

Drastic Devaluations - Crypto asset that lose more than 98% of the initial invested $ amount.

Initial invested $ amount: $253 at the time or 6285 $Bond

Screenshot 2023-08-30 133400.jpg

Current invested $ amount: $0.00

Transaction:https://etherscan.io/tx/0xc4bd1ccedbf218354637532d358a9c40823373d363384f190f762a4f65bb78c1 Transaction:hhttps://etherscan.io/tx/0xeea9460542dfce7cb343820344180c8dd179d295977872de258d877d0edec2ea

Screenshot 2023-08-30 121927.jpg

I ask the community to vote for the reimbursement of $253 worth of SURE, as this claim meets all the eligibility criteria for Insure Defi.

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Discussion

inSure DeFiFollow up - [ BOND Token/ Fringe Finance] Drastic Devaluation

Timeline

Sep 05, 2023Proposal created
Sep 05, 2023Proposal vote started
Sep 30, 2023Proposal vote ended
Oct 26, 2023Proposal updated